Verition Fund Management LLC Sells 4,453 Shares of Delcath Systems, Inc. (NASDAQ:DCTH)

Verition Fund Management LLC lessened its holdings in shares of Delcath Systems, Inc. (NASDAQ:DCTH) by 20.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,382 shares of the company’s stock after selling 4,453 shares during the quarter. Verition Fund Management LLC owned about 0.05% of Delcath Systems worth $157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. bought a new position in shares of Delcath Systems during the third quarter valued at about $808,000. Renaissance Technologies LLC bought a new position in Delcath Systems during the 2nd quarter valued at approximately $694,000. Vanguard Group Inc. grew its position in shares of Delcath Systems by 31.0% in the 1st quarter. Vanguard Group Inc. now owns 683,686 shares of the company’s stock worth $3,261,000 after buying an additional 161,678 shares during the last quarter. Shellback Capital LP purchased a new position in shares of Delcath Systems during the second quarter valued at approximately $1,353,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Delcath Systems during the second quarter valued at approximately $370,000. Hedge funds and other institutional investors own 61.12% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on DCTH shares. Canaccord Genuity Group restated a “buy” rating and issued a $21.00 price objective on shares of Delcath Systems in a report on Friday, October 18th. Stephens restated a “buy” rating on shares of Delcath Systems in a research note on Friday, October 18th. StockNews.com upgraded Delcath Systems from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of Delcath Systems in a report on Monday, November 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Delcath Systems Stock Up 0.9 %

Shares of NASDAQ DCTH opened at $12.22 on Tuesday. The firm’s 50-day moving average price is $10.55 and its 200-day moving average price is $9.17. Delcath Systems, Inc. has a 52-week low of $3.12 and a 52-week high of $13.30. The company has a market cap of $390.72 million, a PE ratio of -9.05 and a beta of 0.85.

About Delcath Systems

Delcath Systems, Inc, an interventional oncology company, focuses on the treatment of primary and metastatic liver cancers in the United States and Europe. The company’s lead product candidate is HEPZATO KIT, a melphalan for injection/hepatic delivery system to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects.